The recent bullish run in the British Pound (GBP) has been pulling back this week. Meanwhile, a disappointing release of UK Manufacturing data could keep the pressure on the pound, though it shouldn't have that much an impact because the data is after all for October. UK Manufacturing (October): -0.9%Forecast: 0.2%Previous (September): 0.6%As we can see, forecasts for a slight increase in manufacturing activity was wrong as the official release saw a -0.9% slowdown. Here is a breakdown of the report:UK Index of Production Oct 2016 (Office for National Statistics)Let's take a look at GBP/USD's chartGBP/USD 4H Chart 12/7(click to enlarge)Bearish Correction in Bullish Market:- Since forming a price bottom in October, GBP/USD has been bullish in November. - This week, price stalled under a previous support pivot that might have acted as resistance.- Note that the pullback is still within the context of a bullish market. - In fact I think as long as price holds above 1.25, GBP/USD still has a bullish technical picture. - Furthermore, even though I said the poor manufacturing data could keep GBP pressured, it looks like GBP/USD is actually finding support after the release of the data. Buy-on-a-dip Consideration:- I think while we are finding buyers here around 1.26, I would rather buy if the dip continues lower towards 1.25. - This is because I would have a better reward to risk if the stop is below 1.25 and the target is 1.2780. - The next bullish target would be around 1.2860.